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Disallowance of interest u/s 40A - The unsecured borrowings by a commercial organisation like the assessee on these facts 16 interest seems to be reasonable. The benchmark 14 adopted by the ld. CIT(A) by taking fixed deposit interest rates of companies like MGF Limited and Rama Vision Ltd. cannot be applied in a rigid way. - Tri

Income Tax - Disallowance of interest u/s 40A - The unsecured borrowings by a commercial organisation like the assessee, on these facts, @ 16% interest seems to be reasonable. The benchmark @ 14% adop .....

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